Analysis of Gas Meter Market Size by Research Nester Reveals the Market to Grow with a CAGR of approximately 6.19% During 2024-2036 and Attain Around USD 13.1 Billion by 2036
Research Nester assesses the growth and market size of global gas meter market which is anticipated to be on account of the growing importance of the adoption of smart meters and the rising focus on energy efficiency
New York – November 10, 2023 - Research Nester’s recent market research analysis on “Gas Meter Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global gas meter market in terms of market segmentation by type, component, end user, and by region.
Growing Government Initiatives for Environment Safety to Promote the Global Market Share of Gas Meter
The gas meter market is likely to be driven by severe environmental sustainability and energy-saving rules, as well as government-supported initiatives. The smart metering legislation in the United Kingdom required utility and energy retail companies to swap out their traditional electricity and gas meters with new modern smart meters that may considerably increase network dependability and effectiveness as they offer real-time information to consumers. The policy laid the legal groundwork for the installation of around 48 million smart energy and gas meters in UK homes by 2020. Moreover, in California, the CPUC authorized Southern California Edison (SCE) to install approximately 5.3 million new smart meters, SDG&E (San Diego Gas & Electric Company) to install approximately 1.4 million electric smart meters and approximately 900,000 gas smart meters,
Some of the major growth factors and challenges that are associated with the growth of the global gas meter market are:
Growth Drivers:
• Growing Demand for Smart Meters
• Rise in the Energy Efficient Equipment
Challenges:
Smart meters have grown in popularity in recent years, yet many individuals still use traditional meters in their homes. Since smart meters are far more costly to install than standard meters. However, some individuals are concerned about the privacy of smart meters, which collect real-time data on your energy usage. To secure client data, energy companies must adhere to strict privacy rules and regulations. Therefore, the high cost of smart gas meters and concerns associated with privacy are some of the major factors anticipated to hamper the global market size of gas meter.
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By type, the global gas meter market is segmented into traditional gas meters and smart gas meters. The smart gas meter category is expected to generate the most revenue of USD 7.4 billion in 2036, rising at a CAGR of 6.39% over the forecast period. Furthermore, revenue in 2022 was USD 3.3 billion. Enhanced battery life for smart gas meters, robust security, and other features drive demand for the gas meter market's smart gas meter segment during the projection period.
By region, the market in North America, amongst the market in all the other regions, is projected to rise at a CAGR of 6.03% over the forecast period to hold a revenue of USD 2.2 billion by the end of 2036. Moreover, in 2022, the market revenue in 2022 was USD 1 billion. The increased consumption of natural gas in the sector provides the market in the region with many prospects. Natural gas is used extensively in industry as an energy source for a range of operations, including manufacturing, heating, and electricity generation. As manufacturing operations grow, so does the demand for reliable and efficient gas measurement solutions.

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This report also provides the existing competitive scenario of some of the key players of the global gas meter market which includes company profiling of ABB Group, Aclara Technologies LLC., Badger Meter, Inc., Diehl Stiftung & Co. KG, Honeywell International, Inc., General Electric, Landis+Gyr, KROHNE Messtechnik GmbH, Itron Inc., Apator S.A, Aichi Tokei Denki Co., Ltd., OSAKI ELECTRIC CO., LTD., Azbil Kimmon Co., Ltd., and TOYOKEIKI CO., LTD.
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